Investment Objective

To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a balanced mix of investments that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 26% - 63%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 13% - 47%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2025
  • Who have a moderate tolerance for risk and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$18.28

Daily $ Change

$0.15

Daily % Change

0.82%

as of 06/23/2022

CUSIP

302027644

Inception Date

08/03/2012

This fund is only available for use within certain qualified employee benefit plans.

Important Documents

Annual Report
Applications & Forms

Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report

Performance

As of 05/31/2022

YTD

-10.07%

1 Year

-7.02%

3 Year

7.33%

5 Year

6.30%

10 Year

7.17%

Inception
(01/01/2000)

6.65%

Performance through the inception date of the Retirement Target CIT Class I Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class I expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.70%
Net 0.69%*

*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 05/31/2022

TREASURY NOTES 19.97%
GOVERNMENT AGENCY 5.29%
TREASURY BONDS 2.67%
AMAZON.COM INC 2.35%
MICROSOFT CORP 1.55%
JOHNSON & JOHNSON 1.53%
MASTERCARD INC-CLASS A 1.37%
VISA INC - CLASS A SHARES 1.32%
SBA COMMUNICATIONS CORP 1.31%
META PLATFORMS INC 1.29%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Bonds 51.36%
Stocks 42.80%
Cash 5.84%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities 11.60%
Small Capitalization 0.65%
Mid Capitalization 3.13%
Large Capitalization 27.43%
Long Term Fixed Income 15.69%
Intermediate Term Fixed Income 27.01%
Short Term Fixed Income 8.65%
Cash 5.84%

Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 109.2 $12,827.12
ACTIVISION INC US ATVI 2,935.24 $228,596.67
ADIDAS AG-SPONSORED ADR DE ADDYY 1,970.55 $195,359.97
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 159,216.43 $139,626.03
ADYEN NV UNSPON ADR NL ADYEY 14,989.08 $232,030.90
AGREE REALTY CORP US ADC 200.61 $13,956.11
AIR LIQUIDE-ADR FR AIQUY 10,754.59 $375,442.60
AIR LEASE CORP 3.62500 04/01/2027 US 150,836.3 $143,444.66
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 18,663.36 $19,580.45
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 323,085.55 $281,292.29
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 89,480.53 $74,433.96
ALLSTATE CORPORATION US ALL 42.41 $5,797.31
ALPHABET INC-CL A US GOOGL 176.96 $402,625.44
AMAZON.COM INC US AMZN 507.87 $1,221,006.75
AMAZON.COM INC 3.30000 04/13/2027 US 299,664.12 $299,388.06
DIAGEO PLC GB DGE LN 4,487.27 $208,484.14
AMERICAN HOMES 4 RENT- A US AMH 714.42 $26,404.87
AMERICAN TOWER REIT INC US AMT 106.87 $27,373.63
ANALOG DEVICES INC US ADI 63.06 $10,619.57
APPLE HOSPITALITY REIT INC US APLE 2,435.15 $40,691.36
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 17,877.89 $18,085.29
ARCHER-DANIELS-MIDLAND CO US ADM 71.68 $6,510.13
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 145,157.07 $138,030.07
AUTOMATIC DATA PROCESSING US ADP 43.5 $9,698.47
AVALONBAY COMMUNITIES INC US AVB 169.69 $35,289.65
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 380,588.39 $329,793.24
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 120,186.76 $121,673.40
BANK OF AMERICA CORP 2.68700 04/22/2032 US 249,729.55 $218,491.15
BARRICK GOLD CORP CA GOLD 6,906.88 $141,522.00
BAXTER INTERNATIONAL INC US BAX 55.26 $4,202.24
BEST BUY INC US BBY 39.82 $3,267.94
BIOMARIN PHARMACEUTICAL INC US BMRN 5,470.34 $410,986.95
BLACKROCK INC US BLK 310.04 $207,444.07
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 161,168.22 $140,222.09
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 158,240.54 $143,958.32
DECHRA PHARMACEUTICALS PLC GB DPH LN 804.56 $36,879.13
BRANDYWINE REALTY TRUST US BDN 1,211.16 $13,504.39
BABS 2021-RM2 A 1.75000 10/25/2061 US 34,998.37 $31,665.99
BRISTOL MYERS SQUIBB CO US BMY 192.47 $14,522.10
BROADRIDGE FINANCIAL SOLUTIONS US BR 21.45 $3,136.84
JONAH ENERGY PARENT LLC US 699.07 $37,512.28
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 127,720.81 $117,174.95
SORT 2020-1 A2 1.99000 07/15/2060 US 106,770.73 $93,754.71
C.H. ROBINSON WORLDWIDE INC US CHRW 27.67 $3,002.92
CIM 2019-INV1 A1 4.00000 02/25/2049 US 5,504.84 $5,498.43
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 351,321.4 $350,368.04
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 195,178.56 $191,573.18
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 32,037.85 $30,058.95
COTERRA ENERGY INC US CTRA 108.22 $3,715.28
CAMDEN PROPERTY TRUST US CPT 163.27 $23,427.95
CAMECO CORP CA CCJ 538.68 $13,181.52
CAMPBELL SOUP CO US CPB 61.87 $2,964.09
CANADIAN NATIONAL RAILWAY CO CA CNI 2,953.67 $336,068.18
CARETRUST REIT INC US CTRE 808.75 $14,986.06
CATERPILLAR INC US CAT 57.2 $12,345.78
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 372,503.82 $419,776.49
CENTURYLINK INC 7.50000 04/01/2024 US 54,896.05 $56,791.04
CHARTER COMMUNICATIONS INC-A US CHTR 785.78 $398,336.44
CHEVRON CORP US CVX 104.84 $18,310.75
CINCINNATI FINANCIAL CORP US CINF 29.17 $3,729.92
CISCO SYSTEMS INC US CSCO 356.97 $16,081.65
CITIGROUP INC US C 218.23 $11,655.67
CITIGROUP INC 1.46200 06/09/2027 US 239,340.94 $215,591.71
CLARK CNTY NV 1.51000 11/01/2028 US 199,082.13 $175,140.54
COCA COLA CO/THE US KO 6,171.01 $391,118.47
COLGATE-PALMOLIVE CO US CL 99.01 $7,803.08
COMCAST CORP-CL A US CMCSA 386 $17,091.90
COMMUNITY HEALTHCARE TRUST I US CHCT 421.27 $15,873.63
CONAGRA BRAND INC. US CAG 91.95 $3,024.32
CONOCOPHILLIPS US COP 97.37 $10,940.48
CONTROLADORA VUELA CIA DE AV MX VLRS 918.78 $14,314.59
COPART INC US CPRT 1,739 $199,167.15
COUSINS PROPERTIES INC US CUZ 997.51 $34,463.82
CAALT 2020-1A 2.01000 02/15/2029 US 28,584.43 $28,532.66
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 190,299.09 $178,530.43
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 190,785.17 $173,506.00
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 18,291.55 $16,674.32
CUMMINS INC US CMI 23.35 $4,882.27
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 103,444.64 $94,295.95
KIMBERLY CLARK DE MEXICO S.A.B. MX 18,710.34 $28,948.95
DEVON ENERGY CORPORATION US DVN 71.08 $5,324.25
DIAMONDBACK ENERGY INC US FANG 23.05 $3,503.80
DIGITAL REALTY TRUST INC US DLR 307.53 $42,928.24
DOLLAR GENERAL CORP US DG 1,076.65 $237,228.97
DOLLAR TREE STORES INC US DLTR 1,520.5 $243,781.92
DOW INC US DOW 76.2 $5,180.36
DUKE RLTY INVTS INC US DRE 695.95 $36,766.99
EOG RESOURCES INC US EOG 53.26 $7,295.14
EASTMAN CHEM CO US EMN 26.68 $2,939.20
EBAY INC US EBAY 67.53 $3,286.81
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 27,778.55 $26,323.22
ELECTRONIC ARTS US EA 1,759.34 $243,933.12
EMERSON ELEC CO US EMR 77.66 $6,884.99
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 318,313.43 $332,872.08
EQUINIX INC US EQIX 486.66 $334,377.06
EQUITY LIFESTYLE PROPERTIES US ELS 615.46 $46,590.16
ESSEX PROPERTY TRUST INC US ESS 104.49 $29,658.48
EXPEDIA GROUP INC 3.25000 02/15/2030 US 154,223.58 $136,370.94
EXTRA SPACE STORAGE INC US EXR 152.77 $27,223.56
FMC CORP US FMC 4,409.97 $540,574.10
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 58,856.32 $59,945.04
FREMF 2015-K43 B FLT 3.73230 02/25/2048 US 332,876.99 $327,179.90
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 15,892,675.83 $7,495.14
META PLATFORMS INC US FB 3,452.91 $668,621.44
FHLM POOL G03332 6.00000 10/01/2037 US 2,296.8 $2,543.63
FHLM POOL G05900 6.00000 03/01/2040 US 4,545.01 $5,062.16
FHLM POOL G05906 6.00000 04/01/2040 US 9,254.98 $10,226.52
FHLM POOL G06995 6.00000 05/01/2040 US 14,167.43 $15,708.83
FHLM POOL G13331 5.50000 10/01/2023 US 69.39 $70.54
FHLM POOL G12988 6.00000 01/01/2023 US 32.35 $32.44
FHLM POOL G13078 6.00000 03/01/2023 US 47.85 $48.02
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 62,216.69 $64,102.10
FHLM POOL C91780 4.50000 07/01/2034 US 21,763.22 $22,698.53
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 294,311.2 $283,161.17
FHLM POOL SD8230 4.50000 06/01/2052 US 232,918.64 $237,359.03
FHLM POOL K91364 4.50000 11/01/2033 US 2,596.98 $2,712.92
FHLM POOL K92059 4.50000 09/01/2034 US 16,983.04 $17,682.97
FHLM POOL G60034 4.50000 02/01/2045 US 107,097.09 $111,752.57
FNA 2017-M15 A1 FLT 2.95843 09/25/2027 US 102,049.31 $101,803.22
FNR 2018-31 KP 3.50000 07/25/2047 US 5,496.41 $5,529.19
FHMS K030 X1 FLT 0.14558 04/25/2023 US 6,049,411.09 $7,035.04
FHMS K032 X1 FLT 0.06799 05/25/2023 US 3,985,364.53 $3,416.49
FHR 5189 CP 2.50000 06/25/2049 US 164,202.86 $152,689.13
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 12,356.07 $12,894.73
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 59,790.24 $62,396.79
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 180,566.94 $197,410.61
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 15,162.13 $15,096.54
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 48,044.73 $48,705.90
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 49,736.8 $49,253.02
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 285,986.14 $284,407.12
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 5.74 $5.74
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 14,321.22 $15,861.00
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 23,209.42 $24,086.50
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 37,251.43 $38,659.16
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 18,985.68 $18,997.21
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 316,798.77 $297,991.30
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 295,574.18 $289,962.31
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 292,433.14 $292,812.50
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 292,776.18 $296,317.30
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 7,131.33 $7,862.54
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 4,293.11 $4,740.67
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 351.18 $362.06
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 19,504.29 $20,356.57
FEDEX CORPORATION US FDX 929.13 $208,663.16
FIFTH THIRD BANCORP US FITB 113.25 $4,465.45
FLX 2021-1A A2 3.25000 11/27/2051 US 227,227.32 $210,540.79
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 171,091.18 $164,873.02
FORD MOTOR CREDIT 3.08700 01/09/2023 US 30,331.67 $30,303.80
FREMF 2015-K720 B FLT 3.45856 07/25/2022 US 83,976.36 $83,965.02
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 80,940.81 $75,223.17
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 110,300.03 $102,295.76
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 140,011.25 $130,473.19
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 126,466.96 $116,893.39
GENERAL DYNAMICS CORP US GD 34.1 $7,668.57
GENERAL MLS INC US GIS 84.72 $5,917.36
GENUINE PARTS CO US GPC 26.38 $3,607.31
GETTY REALTY CORP US GTY 545.32 $15,236.24
GILEAD SCIENCES INC US GILD 149.44 $9,691.25
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 117,606.86 $107,812.97
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 54,072.31 $52,662.21
GRAPHIC PACKAGING HOLDING CO US GPK 17,513.98 $389,861.27
GREENIDGE GEN HLD INC US 1,212.13 $24,145.69
GRUPO AEROPORTUARIO PAC-ADR MX PAC 98.42 $14,800.78
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 73.21 $15,907.86
AIRBUS SE FR AIR FP 200.94 $23,549.07
ADIDAS AG DE ADS GR 228.85 $45,464.92
HCA INC 4.12500 06/15/2029 US 216,611.93 $210,860.07
L'OREAL FR OR FP 26.04 $9,197.05
HAWAII ST 2.68200 10/01/2038 US 119,342.39 $94,505.24
HEALTHCARE REALTY TRUST INC US HR 698.09 $20,293.47
HEALTHCARE TRUST OF AMERICA US HTA 478.77 $14,387.01
HEINEKEN NV-SPN ADR NL HEINY 4,193.94 $211,542.24
HOME DEPOT INC US HD 74.96 $22,693.77
HONEYWELL INTERNATIONAL INC US HON 67.88 $13,142.32
HWIRE 2021-1 A2 2.31100 11/20/2051 US 55,759.71 $50,062.64
IDEXX LABORATORIES INC US IDXX 610.42 $239,053.82
KERRY GROUP PLC-A IE KYGA ID 166.56 $17,236.95
ILLINOIS TOOL WKS INC US ITW 39.86 $8,293.33
IMPRL 2021-NQM3 1.59500 11/25/2056 US 128,438.77 $121,932.05
INDEPENDENCE REALTY TRUST IN US IRT 722.63 $16,989.04
INTEL CORP US INTC 369.07 $16,393.98
INTERCONTINENTALEXCHANGE INC US ICE 4,573.16 $468,245.56
INTERNATIONAL FLVRS & FRAGRANCES US IFF 39.56 $5,228.64
INVITATION HOMES INC US INVH 1,155.6 $43,589.28
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 35,812.47 $35,029.05
JP MORGAN CHASE & CO US JPM 216.1 $28,574.26
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 37,083.16 $35,889.54
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 357,519.22 $362,250.15
JOHNSON & JOHNSON US JNJ 4,436.69 $796,518.74
KREF 2021-FL2 A 1.95671 02/15/2039 US 53,694.53 $52,012.96
KEYCORP US KEY 133.11 $2,656.94
KROGER CO US KR 103.2 $5,466.25
L3HARRIS TECHNOLOGIES INC US LHX 955.39 $230,152.25
BEIERSDORF AG DE BEI GR 380.36 $39,478.48
LENNAR CORP US LEN 36.94 $2,964.19
LIFE STORAGE INC US LSI 268.36 $31,333.21
LOCKHEED MARTIN CORP US LMT 25.94 $11,414.29
LULULEMON - ADR CA LULU 866.92 $253,737.64
MAGALLANES INC 4.05400 03/15/2029 US 368,883.73 $353,626.64
ATOS SE FR ATO FP 1,214.89 $31,981.34
MARATHON PETROLEUM CORP US MPC 54.24 $5,521.16
MARRIOTT VACATIONS WORLD US VAC 114.04 $16,846.30
MASTERCARD INC-CLASS A US MA 1,983.24 $709,741.87
MCDONALDS CORP US MCD 44.9 $11,324.95
ACCOR SA FR AC FP 534.45 $17,585.92
MERCADOLIBRE INC AR MELI 35.84 $28,162.13
MERCK & CO INC US MRK 213.08 $19,609.97
MICROSOFT CORP US MSFT 2,971.67 $807,909.13
MICROCHIP TECHNOLOGY INC US MCHP 61.93 $4,498.86
MID-AMERICA APARTMENT COMM US MAA 216.34 $39,156.86
MONDELEZ INTERNATIONAL INC US MDLZ 7,982.26 $507,352.37
MOODY'S CORPORATION US MCO 1,281 $386,309.82
MOTOROLA SOLUTIONS INC US MSI 24.29 $5,338.29
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 119,078.22 $113,227.78
NAVIENT CORP 6.75000 06/25/2025 US 56,876.19 $57,407.12
NETAPP INC US NTAP 43.66 $3,141.16
USRE 2021-1 A1 1.91000 10/20/2061 US 63,245.96 $56,415.56
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 39,253.55 $38,556.95
NRZT 2015-2A A1 3.75000 08/25/2055 US 51,812.82 $50,477.20
NRZT 2016-4A A1 3.75000 11/25/2056 US 101,470.73 $99,164.07
KEYENCE CORP JP 6861 JP 79.77 $31,715.58
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 74,039.35 $71,874.00
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 159,732.72 $145,193.94
NEWMONT GOLDCORP CORP US NEM 2,080.99 $141,195.21
NEXPOINT RESIDENTIAL US NXRT 205.93 $15,131.88
NORFOLK SOUTHN CORP US NSC 928.71 $222,574.12
NIKON CORP JP 7731 JP 3,186.35 $39,537.25
NORTHROP GRUMMAN CORP US NOC 515.01 $241,007.06
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 56,186.79 $5.62
NOVARTIS AG- REG CH NVS 6,381.09 $580,295.90
NUCOR CORP US NUE 39.08 $5,176.23
OBX 2022-INV1 A1 3.00000 12/25/2051 US 130,372.54 $118,872.54
OMNICOM GROUP US OMC 43.75 $3,264.14
SONY CORP FIRST SECTION JP 6758 JP 368.45 $34,556.77
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 153,304.38 $142,756.71
OXFIN 2020-1A A2 3.10100 02/15/2028 US 205,068.26 $203,885.51
OXFIN 2022-1A 3.60200 02/15/2030 US 211,360.93 $201,186.06
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 32,205.06 $30,617.76
PPG INDUSTRIES INC US PPG 26.29 $3,324.81
PACKAGING CORP OF AMERICA US PKG 19.06 $2,997.71
PARKER HANNIFIN CORP US PH 14.54 $3,956.58
DEUTSCHE BOERSE AG DE DB1 GR 308.72 $51,884.74
PAYPAL HOLDINGS INC US PYPL 4,344.27 $370,175.29
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 255,941.07 $246,300.51
NESTLE SA-REGISTERED CH NESN SW 3,473.3 $424,844.60
PFIZER INC US PFE 306.61 $16,262.45
PIONEER NATURAL RESOURCES CO US PXD 23.05 $6,406.05
POPULAR INC 6.12500 09/14/2023 PR 56,876.19 $57,519.92
PROCTER & GAMBLE CO US PG 164.25 $24,289.03
PROLOGIS US PLD 1,066.1 $135,906.38
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 209,269.02 $183,820.63
PFMT 2021-2 A2A 2.00000 04/25/2051 US 131,312.78 $118,958.33
PUBLIC STORAGE INC US PSA 193.64 $64,024.47
QUALCOMM INC US QCOM 110.25 $15,789.82
QUALCOMM INC 4.25000 05/20/2032 US 214,696.41 $222,933.88
QUEST DIAGNOSTICS INC US DGX 24.64 $3,474.46
RCKT 2021-6 A1 2.50000 12/25/2051 US 264,214.47 $231,757.88
RADIUS GLOBAL INFRASTRUCTURE US RADI 3,559.59 $53,037.86
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 63,103.08 $61,064.75
REGIONS FINANCIAL CORP. US RF 173.63 $3,835.52
REPUBLIC SERVICES INC US RSG 44.75 $5,989.07
RESTAURANT BRANDS INTERN CA QSR 339.51 $17,827.72
REXFORD INDUSTRIAL REALITY IN US REXR 658.42 $42,052.98
GETINGE AB-B SHS SE GETIB SS 1,271.72 $36,906.93
ROSS STORES INC US ROST 39.97 $3,398.50
HEINEKEN NV NL HEIA NA 269.61 $27,109.66
RYANAIR HOLDINGS - ADR IE RYAAY 2,643.88 $230,545.90
SBA TOWER TRUST 1.88400 01/15/2026 US 168,829.45 $157,536.97
S&P GLOBAL INC US SPGI 417.66 $145,965.28
SBA COMMUNICATIONS CORP US SBAC 2,018.4 $679,412.09
NAVIENT CORP 5.50000 01/25/2023 US 28,524.65 $28,644.57
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 43,803.9 $37,780.27
SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 43,330.88 $41,369.60
SMB 2020-BA A1A 1.29000 07/15/2053 US 155,458.54 $144,943.59
SALESFORCE INC US CRM 2,720.99 $436,011.67
SEA LTD - ADR SG SE 3,865.22 $319,499.04
SEAGEN INC US SGEN 3,516.18 $477,074.94
SEMT 2013-6 A2 3.00000 05/25/2043 US 48,566.36 $45,482.14
SEMT 2013-7 A2 3.00000 06/25/2043 US 20,463.62 $19,174.75
SEMT 2013-8 A1 3.00000 06/25/2043 US 23,934.29 $22,479.86
SEMT 2013-2 1.87400 02/25/2043 US 19,054.09 $17,256.51
SERVICENOW INC US NOW 922.7 $431,336.74
SHOPIFY INC CA SHOP 39.47 $14,805.25
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 478,681.88 $413,406.63
SKYWORKS SOLUTIONS INC US SWKS 23.15 $2,519.89
JM SMUCKER CO/THE-NEW COM WI US SJM 21.7 $2,720.49
SOFI 2017-F A2FX 2.84000 01/25/2041 US 9,227.53 $9,112.57
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 44,062.63 $43,762.15
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 27,590.15 $26,910.83
SONY CORP SPONSORED ADR JP SONY 2,601.69 $244,741.23
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 175,046.55 $157,597.33
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 254,949.18 $266,129.89
STANLEY BLACK & DECKER INC US SWK 21.65 $2,570.08
SRPT 2014-STAR A FLTG RATE 2.34500 11/15/2027 US 215,687.52 $148,262.62
STEEL DYNAMICS INC US STLD 39.82 $3,400.15
SUN COMMUNITIES US SUI 320.32 $52,574.68
SCML 2019-SBC8 2.86000 04/25/2041 US 118,353.19 $111,130.69
SYNCHRONOSS TECH US 2,280.61 $50,584.03
SYNERGY ONE LENDING 5.50000 10/14/2026 US 63,591.03 $56,723.54
TJX COMPANIES INC US TJX 98.86 $6,284.66
TACORA RESOURCES INC 8.25000 05/15/2026 CA 28,524.65 $27,215.53
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 2,906.74 $277,011.92
TARGET CORP US TGT 37.53 $6,075.98
TENCENT HOLDINGS 3.97500 04/11/2029 KY 590,715.29 $569,177.82
TERRENO REALTY CORP US TRNO 367.46 $22,308.77
TEXAS INSTRUMENTS INC US TXN 64.46 $11,393.27
THERMO FISHER SCIENTIFIC INC US TMO 413.43 $234,649.89
3M CO US MMM 66.41 $9,913.95
TPMT 2016-5 A1 2.50000 10/25/2056 US 54,389.81 $54,152.32
TPMT 2017-1 A1 2.75000 10/25/2056 US 30,382.65 $30,263.05
TPMT 2019-HY1 A1 2.00571 10/25/2048 US 51,320.5 $50,809.57
TRACTOR SUPPLY COMPANY US TSCO 13.99 $2,620.47
TRAVELLERS COS INC US TRV 33.4 $5,980.24
TAH 2017-SFR2 A 2.92800 01/17/2036 US 120,558.48 $119,172.72
TCF 2021-1A 1.86000 03/20/2046 US 188,203.18 $165,132.06
TYSON FOODS INC -CL A US TSN 53.71 $4,813.17
UDR INC US UDR 793.22 $37,915.71
U.S. BANCORP US USB 174.62 $9,267.31
UNILEVER PLC - ADR GB UL 11,155.31 $539,136.02
UNION PAC CORP US UNP 60.67 $13,334.95
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 55,161.01 $49,651.47
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 9,294.48 $8,706.77
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 29,843.73 $30,300.09
UNITED PARCEL SERVICE US UPS 1,185.1 $215,984.09
US TREASURY N/BB 3.87500 08/15/2040 US 1,157,704.52 $1,268,410.02
US TREASURY N/B 2.50000 02/15/2045 US 610,297.03 $528,383.73
US TREASURY N/B 3.00000 05/15/2047 US 344,264.56 $328,180.95
US TREASURY N/B 2.00000 02/15/2050 US 674,290.96 $531,952.35
US TREASURY N/B 2.87500 05/15/2028 US 546,238.61 $546,067.91
US TREASURY N/B 1.62500 05/15/2026 US 2,331,921.26 $2,229,353.17
US TREASURY N/B 2.50000 05/15/2024 US 1,271,890.02 $1,271,740.97
US TREASURY N/B 2.37500 05/15/2027 US 2,331,395.9 $2,280,943.05
UNITED STATES TREAS NTS 2.12500 05/15/2025 US 2,288,405.96 $2,249,789.12
US TREASURY N/B 1.62500 05/15/2031 US 589,595.79 $533,215.69
VF CORP US VFC 52.82 $2,665.15
VENTAS INC US VTR 385.93 $21,897.84
VERTEX PHARMACEUTICALS INC US VRTX 1,666.53 $447,713.81
PARAMOUNT GLOBAL CLASS B US PARA 86.82 $2,980.38
VISA INC - CLASS A SHARES US V 3,237.24 $686,845.65
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 67,009.67 $65,776.19
VISTRA OPERATIONS 4.87500 05/13/2024 US 235,150.87 $236,044.08
WAL MART STORES US WMT 182.84 $23,519.05
WALGREENS BOOTS ALLIANCE INC US WBA 99.81 $4,374.63
WARRIOR MET COAL INC 7.87500 12/01/2028 US 8,002.55 $8,116.99
WASTE MANAGEMENT INC US WM 50.77 $8,047.29
WELLTOWER INC. US WELL 445.82 $39,717.67
WIN 2015-1 A1 3.50000 01/20/2045 US 12,969.97 $12,400.17
ZOETIS INC US ZTS 597.02 $102,048.96
BNY MELLON CASH RESERVE EOD FUND US 41.81 $41.81
ADMIRAL GROUP PLC GB ADM LN 1,572.34 $44,021.52
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,648.84 $11,881.70
UBISOFT ENTERTAINMENT FR UBI FP 607.54 $31,940.01
DANONE FR BN FP 305.92 $17,999.45
AIR LIQUIDE FR AI FP 348.69 $61,080.06
CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 62,495.7 $49,409.57
MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 550,408.12 $27,963.08
BRENNTAG AG DE BNR GR 555.57 $42,988.41
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 175,033.32 $8,415.62
KEYWORDS STUDIOS PLC IE KWS LN 315.8 $9,331.21
S4 CAPITAL PLC GB SFOR LN 6,588.61 $23,564.71
HELIOS TOWERS PLC GB HTWS LN 9,601.63 $13,756.65
AVANZA BANK HOLDING AB SE AZA SS 1,166.6 $28,105.97
AMERICAN TANKER INC 7.75000 07/02/2025 US 60,606.65 $57,576.32
SOFTWAREONE HOLDING AG CH SWON SW 2,006.23 $26,794.74
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,131.51 $20,005.07
SEASPAN CORP 6.50000 02/05/2024 MH 49,361.58 $49,237.44
PETROTAL CORP 12.00000 02/16/2024 CA 47,291.57 $48,710.32
FINECOBANK SPA IT FBK IM 3,742.55 $53,034.16
ALLFUNDS GROUP PLC GB ALLFG NA 2,130.52 $19,433.54
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 50,391.75 $50,360.13
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 59,687.45 $59,786.73
KENT GLOBAL PLC 10.00000 06/28/2026 GB 27,290.61 $27,017.70
ROTORK PLC GB ROR LN 7,787.02 $27,405.72
AUTO TRADER GROUP PLC GB AUTO LN 6,467 $48,109.15
CELLNEX TELECOM SA ES CLNX SM 303.1 $13,678.67
ASSA ABLOY AB-B SE ASSAB SS 1,675.37 $41,299.77
CLEANAWAY WASTE MANAGEMENT AU CWY AU 16,748.66 $35,894.13
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,586.98 $31,508.10
ADYEN NV NL ADYEN NA 28.52 $44,164.48
BANK OF N.T. BUTTERFIELD&SON BM NTB 553.64 $17,484.02
BUNGE LIMITED US BG 28.23 $3,339.58
EATON CORP PLC US ETN 54.01 $7,485.12
JOHNSON CONTROLS INTERNATIONAL US JCI 97.32 $5,304.82
MEDTRONIC INC IE MDT 2,805.5 $280,970.85
ROYALTY PHARMA PLC- CL A US RPRX 75.11 $3,089.94
STONECO LTD-A BR STNE 1,958.11 $19,659.42
TRANE TECHNOLOGIES IE TT 25.79 $3,560.00
ALCON INC CH ALC 3,698.33 $276,376.13
CHUBB LTD CH CB 47.93 $10,127.81
GARMIN LTD CH GRMN 35.44 $3,743.08
TE CONNECTIVITY LIMITED CH TEL 35.59 $4,604.78
LYONDELLBASELL INDU-CL A US LYB 36.79 $4,203.00
PLAYA HOTELS AND RESORTS US PLYA 1,576.33 $13,619.50
US DOLLAR US 3,224,831.43 $3,224,831.43
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 27,672.76 $27,647.47

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Extended Term CIT Fund and Manning & Napier Pro-Mix® Moderate Term CIT Fund. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

A Word About Risk

Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.

Daily Price

$18.28

Daily $ Change

$0.15

Daily % Change

0.82%

as of 06/23/2022

CUSIP

302027644

Inception Date

08/03/2012

This fund is only available for use within certain qualified employee benefit plans.

Important Documents

Annual Report
Fact Sheet
Applications & Forms

Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report

Investment Objective

To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a balanced mix of investments that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 26% - 63%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 13% - 47%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2025
  • Who have a moderate tolerance for risk and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 05/31/2022

YTD

-10.07%

1 Year

-7.02%

3 Year

7.33%

5 Year

6.30%

10 Year

7.17%

Inception
(01/01/2000)

6.65%

Performance through the inception date of the Retirement Target CIT Class I Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class I expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.70%
Net 0.69%*

*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 05/31/2022

TREASURY NOTES 19.97%
GOVERNMENT AGENCY 5.29%
TREASURY BONDS 2.67%
AMAZON.COM INC 2.35%
MICROSOFT CORP 1.55%
JOHNSON & JOHNSON 1.53%
MASTERCARD INC-CLASS A 1.37%
VISA INC - CLASS A SHARES 1.32%
SBA COMMUNICATIONS CORP 1.31%
META PLATFORMS INC 1.29%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Bonds
51.36%
Stocks
42.80%
Cash
5.84%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities
11.60%
Small Capitalization
0.65%
Mid Capitalization
3.13%
Large Capitalization
27.43%
Long Term Fixed Income
15.69%
Intermediate Term Fixed Income
27.01%
Short Term Fixed Income
8.65%
Cash
5.84%

Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 109.2 $12,827.12
ACTIVISION INC US ATVI 2,935.24 $228,596.67
ADIDAS AG-SPONSORED ADR DE ADDYY 1,970.55 $195,359.97
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 159,216.43 $139,626.03
ADYEN NV UNSPON ADR NL ADYEY 14,989.08 $232,030.90
AGREE REALTY CORP US ADC 200.61 $13,956.11
AIR LIQUIDE-ADR FR AIQUY 10,754.59 $375,442.60
AIR LEASE CORP 3.62500 04/01/2027 US 150,836.3 $143,444.66
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 18,663.36 $19,580.45
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 323,085.55 $281,292.29
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 89,480.53 $74,433.96
ALLSTATE CORPORATION US ALL 42.41 $5,797.31
ALPHABET INC-CL A US GOOGL 176.96 $402,625.44
AMAZON.COM INC US AMZN 507.87 $1,221,006.75
AMAZON.COM INC 3.30000 04/13/2027 US 299,664.12 $299,388.06
DIAGEO PLC GB DGE LN 4,487.27 $208,484.14
AMERICAN HOMES 4 RENT- A US AMH 714.42 $26,404.87
AMERICAN TOWER REIT INC US AMT 106.87 $27,373.63
ANALOG DEVICES INC US ADI 63.06 $10,619.57
APPLE HOSPITALITY REIT INC US APLE 2,435.15 $40,691.36
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 17,877.89 $18,085.29
ARCHER-DANIELS-MIDLAND CO US ADM 71.68 $6,510.13
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 145,157.07 $138,030.07
AUTOMATIC DATA PROCESSING US ADP 43.5 $9,698.47
AVALONBAY COMMUNITIES INC US AVB 169.69 $35,289.65
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 380,588.39 $329,793.24
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 120,186.76 $121,673.40
BANK OF AMERICA CORP 2.68700 04/22/2032 US 249,729.55 $218,491.15
BARRICK GOLD CORP CA GOLD 6,906.88 $141,522.00
BAXTER INTERNATIONAL INC US BAX 55.26 $4,202.24
BEST BUY INC US BBY 39.82 $3,267.94
BIOMARIN PHARMACEUTICAL INC US BMRN 5,470.34 $410,986.95
BLACKROCK INC US BLK 310.04 $207,444.07
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 161,168.22 $140,222.09
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 158,240.54 $143,958.32
DECHRA PHARMACEUTICALS PLC GB DPH LN 804.56 $36,879.13
BRANDYWINE REALTY TRUST US BDN 1,211.16 $13,504.39
BABS 2021-RM2 A 1.75000 10/25/2061 US 34,998.37 $31,665.99
BRISTOL MYERS SQUIBB CO US BMY 192.47 $14,522.10
BROADRIDGE FINANCIAL SOLUTIONS US BR 21.45 $3,136.84
JONAH ENERGY PARENT LLC US 699.07 $37,512.28
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 127,720.81 $117,174.95
SORT 2020-1 A2 1.99000 07/15/2060 US 106,770.73 $93,754.71
C.H. ROBINSON WORLDWIDE INC US CHRW 27.67 $3,002.92
CIM 2019-INV1 A1 4.00000 02/25/2049 US 5,504.84 $5,498.43
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 351,321.4 $350,368.04
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 195,178.56 $191,573.18
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 32,037.85 $30,058.95
COTERRA ENERGY INC US CTRA 108.22 $3,715.28
CAMDEN PROPERTY TRUST US CPT 163.27 $23,427.95
CAMECO CORP CA CCJ 538.68 $13,181.52
CAMPBELL SOUP CO US CPB 61.87 $2,964.09
CANADIAN NATIONAL RAILWAY CO CA CNI 2,953.67 $336,068.18
CARETRUST REIT INC US CTRE 808.75 $14,986.06
CATERPILLAR INC US CAT 57.2 $12,345.78
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 372,503.82 $419,776.49
CENTURYLINK INC 7.50000 04/01/2024 US 54,896.05 $56,791.04
CHARTER COMMUNICATIONS INC-A US CHTR 785.78 $398,336.44
CHEVRON CORP US CVX 104.84 $18,310.75
CINCINNATI FINANCIAL CORP US CINF 29.17 $3,729.92
CISCO SYSTEMS INC US CSCO 356.97 $16,081.65
CITIGROUP INC US C 218.23 $11,655.67
CITIGROUP INC 1.46200 06/09/2027 US 239,340.94 $215,591.71
CLARK CNTY NV 1.51000 11/01/2028 US 199,082.13 $175,140.54
COCA COLA CO/THE US KO 6,171.01 $391,118.47
COLGATE-PALMOLIVE CO US CL 99.01 $7,803.08
COMCAST CORP-CL A US CMCSA 386 $17,091.90
COMMUNITY HEALTHCARE TRUST I US CHCT 421.27 $15,873.63
CONAGRA BRAND INC. US CAG 91.95 $3,024.32
CONOCOPHILLIPS US COP 97.37 $10,940.48
CONTROLADORA VUELA CIA DE AV MX VLRS 918.78 $14,314.59
COPART INC US CPRT 1,739 $199,167.15
COUSINS PROPERTIES INC US CUZ 997.51 $34,463.82
CAALT 2020-1A 2.01000 02/15/2029 US 28,584.43 $28,532.66
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 190,299.09 $178,530.43
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 190,785.17 $173,506.00
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 18,291.55 $16,674.32
CUMMINS INC US CMI 23.35 $4,882.27
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 103,444.64 $94,295.95
KIMBERLY CLARK DE MEXICO S.A.B. MX 18,710.34 $28,948.95
DEVON ENERGY CORPORATION US DVN 71.08 $5,324.25
DIAMONDBACK ENERGY INC US FANG 23.05 $3,503.80
DIGITAL REALTY TRUST INC US DLR 307.53 $42,928.24
DOLLAR GENERAL CORP US DG 1,076.65 $237,228.97
DOLLAR TREE STORES INC US DLTR 1,520.5 $243,781.92
DOW INC US DOW 76.2 $5,180.36
DUKE RLTY INVTS INC US DRE 695.95 $36,766.99
EOG RESOURCES INC US EOG 53.26 $7,295.14
EASTMAN CHEM CO US EMN 26.68 $2,939.20
EBAY INC US EBAY 67.53 $3,286.81
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 27,778.55 $26,323.22
ELECTRONIC ARTS US EA 1,759.34 $243,933.12
EMERSON ELEC CO US EMR 77.66 $6,884.99
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 318,313.43 $332,872.08
EQUINIX INC US EQIX 486.66 $334,377.06
EQUITY LIFESTYLE PROPERTIES US ELS 615.46 $46,590.16
ESSEX PROPERTY TRUST INC US ESS 104.49 $29,658.48
EXPEDIA GROUP INC 3.25000 02/15/2030 US 154,223.58 $136,370.94
EXTRA SPACE STORAGE INC US EXR 152.77 $27,223.56
FMC CORP US FMC 4,409.97 $540,574.10
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 58,856.32 $59,945.04
FREMF 2015-K43 B FLT 3.73230 02/25/2048 US 332,876.99 $327,179.90
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 15,892,675.83 $7,495.14
META PLATFORMS INC US FB 3,452.91 $668,621.44
FHLM POOL G03332 6.00000 10/01/2037 US 2,296.8 $2,543.63
FHLM POOL G05900 6.00000 03/01/2040 US 4,545.01 $5,062.16
FHLM POOL G05906 6.00000 04/01/2040 US 9,254.98 $10,226.52
FHLM POOL G06995 6.00000 05/01/2040 US 14,167.43 $15,708.83
FHLM POOL G13331 5.50000 10/01/2023 US 69.39 $70.54
FHLM POOL G12988 6.00000 01/01/2023 US 32.35 $32.44
FHLM POOL G13078 6.00000 03/01/2023 US 47.85 $48.02
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 62,216.69 $64,102.10
FHLM POOL C91780 4.50000 07/01/2034 US 21,763.22 $22,698.53
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 294,311.2 $283,161.17
FHLM POOL SD8230 4.50000 06/01/2052 US 232,918.64 $237,359.03
FHLM POOL K91364 4.50000 11/01/2033 US 2,596.98 $2,712.92
FHLM POOL K92059 4.50000 09/01/2034 US 16,983.04 $17,682.97
FHLM POOL G60034 4.50000 02/01/2045 US 107,097.09 $111,752.57
FNA 2017-M15 A1 FLT 2.95843 09/25/2027 US 102,049.31 $101,803.22
FNR 2018-31 KP 3.50000 07/25/2047 US 5,496.41 $5,529.19
FHMS K030 X1 FLT 0.14558 04/25/2023 US 6,049,411.09 $7,035.04
FHMS K032 X1 FLT 0.06799 05/25/2023 US 3,985,364.53 $3,416.49
FHR 5189 CP 2.50000 06/25/2049 US 164,202.86 $152,689.13
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 12,356.07 $12,894.73
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 59,790.24 $62,396.79
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 180,566.94 $197,410.61
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 15,162.13 $15,096.54
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 48,044.73 $48,705.90
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 49,736.8 $49,253.02
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 285,986.14 $284,407.12
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 5.74 $5.74
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 14,321.22 $15,861.00
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 23,209.42 $24,086.50
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 37,251.43 $38,659.16
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 18,985.68 $18,997.21
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 316,798.77 $297,991.30
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 295,574.18 $289,962.31
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 292,433.14 $292,812.50
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 292,776.18 $296,317.30
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 7,131.33 $7,862.54
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 4,293.11 $4,740.67
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 351.18 $362.06
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 19,504.29 $20,356.57
FEDEX CORPORATION US FDX 929.13 $208,663.16
FIFTH THIRD BANCORP US FITB 113.25 $4,465.45
FLX 2021-1A A2 3.25000 11/27/2051 US 227,227.32 $210,540.79
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 171,091.18 $164,873.02
FORD MOTOR CREDIT 3.08700 01/09/2023 US 30,331.67 $30,303.80
FREMF 2015-K720 B FLT 3.45856 07/25/2022 US 83,976.36 $83,965.02
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 80,940.81 $75,223.17
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 110,300.03 $102,295.76
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 140,011.25 $130,473.19
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 126,466.96 $116,893.39
GENERAL DYNAMICS CORP US GD 34.1 $7,668.57
GENERAL MLS INC US GIS 84.72 $5,917.36
GENUINE PARTS CO US GPC 26.38 $3,607.31
GETTY REALTY CORP US GTY 545.32 $15,236.24
GILEAD SCIENCES INC US GILD 149.44 $9,691.25
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 117,606.86 $107,812.97
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 54,072.31 $52,662.21
GRAPHIC PACKAGING HOLDING CO US GPK 17,513.98 $389,861.27
GREENIDGE GEN HLD INC US 1,212.13 $24,145.69
GRUPO AEROPORTUARIO PAC-ADR MX PAC 98.42 $14,800.78
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 73.21 $15,907.86
AIRBUS SE FR AIR FP 200.94 $23,549.07
ADIDAS AG DE ADS GR 228.85 $45,464.92
HCA INC 4.12500 06/15/2029 US 216,611.93 $210,860.07
L'OREAL FR OR FP 26.04 $9,197.05
HAWAII ST 2.68200 10/01/2038 US 119,342.39 $94,505.24
HEALTHCARE REALTY TRUST INC US HR 698.09 $20,293.47
HEALTHCARE TRUST OF AMERICA US HTA 478.77 $14,387.01
HEINEKEN NV-SPN ADR NL HEINY 4,193.94 $211,542.24
HOME DEPOT INC US HD 74.96 $22,693.77
HONEYWELL INTERNATIONAL INC US HON 67.88 $13,142.32
HWIRE 2021-1 A2 2.31100 11/20/2051 US 55,759.71 $50,062.64
IDEXX LABORATORIES INC US IDXX 610.42 $239,053.82
KERRY GROUP PLC-A IE KYGA ID 166.56 $17,236.95
ILLINOIS TOOL WKS INC US ITW 39.86 $8,293.33
IMPRL 2021-NQM3 1.59500 11/25/2056 US 128,438.77 $121,932.05
INDEPENDENCE REALTY TRUST IN US IRT 722.63 $16,989.04
INTEL CORP US INTC 369.07 $16,393.98
INTERCONTINENTALEXCHANGE INC US ICE 4,573.16 $468,245.56
INTERNATIONAL FLVRS & FRAGRANCES US IFF 39.56 $5,228.64
INVITATION HOMES INC US INVH 1,155.6 $43,589.28
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 35,812.47 $35,029.05
JP MORGAN CHASE & CO US JPM 216.1 $28,574.26
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 37,083.16 $35,889.54
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 357,519.22 $362,250.15
JOHNSON & JOHNSON US JNJ 4,436.69 $796,518.74
KREF 2021-FL2 A 1.95671 02/15/2039 US 53,694.53 $52,012.96
KEYCORP US KEY 133.11 $2,656.94
KROGER CO US KR 103.2 $5,466.25
L3HARRIS TECHNOLOGIES INC US LHX 955.39 $230,152.25
BEIERSDORF AG DE BEI GR 380.36 $39,478.48
LENNAR CORP US LEN 36.94 $2,964.19
LIFE STORAGE INC US LSI 268.36 $31,333.21
LOCKHEED MARTIN CORP US LMT 25.94 $11,414.29
LULULEMON - ADR CA LULU 866.92 $253,737.64
MAGALLANES INC 4.05400 03/15/2029 US 368,883.73 $353,626.64
ATOS SE FR ATO FP 1,214.89 $31,981.34
MARATHON PETROLEUM CORP US MPC 54.24 $5,521.16
MARRIOTT VACATIONS WORLD US VAC 114.04 $16,846.30
MASTERCARD INC-CLASS A US MA 1,983.24 $709,741.87
MCDONALDS CORP US MCD 44.9 $11,324.95
ACCOR SA FR AC FP 534.45 $17,585.92
MERCADOLIBRE INC AR MELI 35.84 $28,162.13
MERCK & CO INC US MRK 213.08 $19,609.97
MICROSOFT CORP US MSFT 2,971.67 $807,909.13
MICROCHIP TECHNOLOGY INC US MCHP 61.93 $4,498.86
MID-AMERICA APARTMENT COMM US MAA 216.34 $39,156.86
MONDELEZ INTERNATIONAL INC US MDLZ 7,982.26 $507,352.37
MOODY'S CORPORATION US MCO 1,281 $386,309.82
MOTOROLA SOLUTIONS INC US MSI 24.29 $5,338.29
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 119,078.22 $113,227.78
NAVIENT CORP 6.75000 06/25/2025 US 56,876.19 $57,407.12
NETAPP INC US NTAP 43.66 $3,141.16
USRE 2021-1 A1 1.91000 10/20/2061 US 63,245.96 $56,415.56
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 39,253.55 $38,556.95
NRZT 2015-2A A1 3.75000 08/25/2055 US 51,812.82 $50,477.20
NRZT 2016-4A A1 3.75000 11/25/2056 US 101,470.73 $99,164.07
KEYENCE CORP JP 6861 JP 79.77 $31,715.58
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 74,039.35 $71,874.00
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 159,732.72 $145,193.94
NEWMONT GOLDCORP CORP US NEM 2,080.99 $141,195.21
NEXPOINT RESIDENTIAL US NXRT 205.93 $15,131.88
NORFOLK SOUTHN CORP US NSC 928.71 $222,574.12
NIKON CORP JP 7731 JP 3,186.35 $39,537.25
NORTHROP GRUMMAN CORP US NOC 515.01 $241,007.06
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 56,186.79 $5.62
NOVARTIS AG- REG CH NVS 6,381.09 $580,295.90
NUCOR CORP US NUE 39.08 $5,176.23
OBX 2022-INV1 A1 3.00000 12/25/2051 US 130,372.54 $118,872.54
OMNICOM GROUP US OMC 43.75 $3,264.14
SONY CORP FIRST SECTION JP 6758 JP 368.45 $34,556.77
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 153,304.38 $142,756.71
OXFIN 2020-1A A2 3.10100 02/15/2028 US 205,068.26 $203,885.51
OXFIN 2022-1A 3.60200 02/15/2030 US 211,360.93 $201,186.06
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 32,205.06 $30,617.76
PPG INDUSTRIES INC US PPG 26.29 $3,324.81
PACKAGING CORP OF AMERICA US PKG 19.06 $2,997.71
PARKER HANNIFIN CORP US PH 14.54 $3,956.58
DEUTSCHE BOERSE AG DE DB1 GR 308.72 $51,884.74
PAYPAL HOLDINGS INC US PYPL 4,344.27 $370,175.29
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 255,941.07 $246,300.51
NESTLE SA-REGISTERED CH NESN SW 3,473.3 $424,844.60
PFIZER INC US PFE 306.61 $16,262.45
PIONEER NATURAL RESOURCES CO US PXD 23.05 $6,406.05
POPULAR INC 6.12500 09/14/2023 PR 56,876.19 $57,519.92
PROCTER & GAMBLE CO US PG 164.25 $24,289.03
PROLOGIS US PLD 1,066.1 $135,906.38
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 209,269.02 $183,820.63
PFMT 2021-2 A2A 2.00000 04/25/2051 US 131,312.78 $118,958.33
PUBLIC STORAGE INC US PSA 193.64 $64,024.47
QUALCOMM INC US QCOM 110.25 $15,789.82
QUALCOMM INC 4.25000 05/20/2032 US 214,696.41 $222,933.88
QUEST DIAGNOSTICS INC US DGX 24.64 $3,474.46
RCKT 2021-6 A1 2.50000 12/25/2051 US 264,214.47 $231,757.88
RADIUS GLOBAL INFRASTRUCTURE US RADI 3,559.59 $53,037.86
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 63,103.08 $61,064.75
REGIONS FINANCIAL CORP. US RF 173.63 $3,835.52
REPUBLIC SERVICES INC US RSG 44.75 $5,989.07
RESTAURANT BRANDS INTERN CA QSR 339.51 $17,827.72
REXFORD INDUSTRIAL REALITY IN US REXR 658.42 $42,052.98
GETINGE AB-B SHS SE GETIB SS 1,271.72 $36,906.93
ROSS STORES INC US ROST 39.97 $3,398.50
HEINEKEN NV NL HEIA NA 269.61 $27,109.66
RYANAIR HOLDINGS - ADR IE RYAAY 2,643.88 $230,545.90
SBA TOWER TRUST 1.88400 01/15/2026 US 168,829.45 $157,536.97
S&P GLOBAL INC US SPGI 417.66 $145,965.28
SBA COMMUNICATIONS CORP US SBAC 2,018.4 $679,412.09
NAVIENT CORP 5.50000 01/25/2023 US 28,524.65 $28,644.57
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 43,803.9 $37,780.27
SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 43,330.88 $41,369.60
SMB 2020-BA A1A 1.29000 07/15/2053 US 155,458.54 $144,943.59
SALESFORCE INC US CRM 2,720.99 $436,011.67
SEA LTD - ADR SG SE 3,865.22 $319,499.04
SEAGEN INC US SGEN 3,516.18 $477,074.94
SEMT 2013-6 A2 3.00000 05/25/2043 US 48,566.36 $45,482.14
SEMT 2013-7 A2 3.00000 06/25/2043 US 20,463.62 $19,174.75
SEMT 2013-8 A1 3.00000 06/25/2043 US 23,934.29 $22,479.86
SEMT 2013-2 1.87400 02/25/2043 US 19,054.09 $17,256.51
SERVICENOW INC US NOW 922.7 $431,336.74
SHOPIFY INC CA SHOP 39.47 $14,805.25
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 478,681.88 $413,406.63
SKYWORKS SOLUTIONS INC US SWKS 23.15 $2,519.89
JM SMUCKER CO/THE-NEW COM WI US SJM 21.7 $2,720.49
SOFI 2017-F A2FX 2.84000 01/25/2041 US 9,227.53 $9,112.57
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 44,062.63 $43,762.15
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 27,590.15 $26,910.83
SONY CORP SPONSORED ADR JP SONY 2,601.69 $244,741.23
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 175,046.55 $157,597.33
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 254,949.18 $266,129.89
STANLEY BLACK & DECKER INC US SWK 21.65 $2,570.08
SRPT 2014-STAR A FLTG RATE 2.34500 11/15/2027 US 215,687.52 $148,262.62
STEEL DYNAMICS INC US STLD 39.82 $3,400.15
SUN COMMUNITIES US SUI 320.32 $52,574.68
SCML 2019-SBC8 2.86000 04/25/2041 US 118,353.19 $111,130.69
SYNCHRONOSS TECH US 2,280.61 $50,584.03
SYNERGY ONE LENDING 5.50000 10/14/2026 US 63,591.03 $56,723.54
TJX COMPANIES INC US TJX 98.86 $6,284.66
TACORA RESOURCES INC 8.25000 05/15/2026 CA 28,524.65 $27,215.53
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 2,906.74 $277,011.92
TARGET CORP US TGT 37.53 $6,075.98
TENCENT HOLDINGS 3.97500 04/11/2029 KY 590,715.29 $569,177.82
TERRENO REALTY CORP US TRNO 367.46 $22,308.77
TEXAS INSTRUMENTS INC US TXN 64.46 $11,393.27
THERMO FISHER SCIENTIFIC INC US TMO 413.43 $234,649.89
3M CO US MMM 66.41 $9,913.95
TPMT 2016-5 A1 2.50000 10/25/2056 US 54,389.81 $54,152.32
TPMT 2017-1 A1 2.75000 10/25/2056 US 30,382.65 $30,263.05
TPMT 2019-HY1 A1 2.00571 10/25/2048 US 51,320.5 $50,809.57
TRACTOR SUPPLY COMPANY US TSCO 13.99 $2,620.47
TRAVELLERS COS INC US TRV 33.4 $5,980.24
TAH 2017-SFR2 A 2.92800 01/17/2036 US 120,558.48 $119,172.72
TCF 2021-1A 1.86000 03/20/2046 US 188,203.18 $165,132.06
TYSON FOODS INC -CL A US TSN 53.71 $4,813.17
UDR INC US UDR 793.22 $37,915.71
U.S. BANCORP US USB 174.62 $9,267.31
UNILEVER PLC - ADR GB UL 11,155.31 $539,136.02
UNION PAC CORP US UNP 60.67 $13,334.95
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 55,161.01 $49,651.47
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 9,294.48 $8,706.77
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 29,843.73 $30,300.09
UNITED PARCEL SERVICE US UPS 1,185.1 $215,984.09
US TREASURY N/BB 3.87500 08/15/2040 US 1,157,704.52 $1,268,410.02
US TREASURY N/B 2.50000 02/15/2045 US 610,297.03 $528,383.73
US TREASURY N/B 3.00000 05/15/2047 US 344,264.56 $328,180.95
US TREASURY N/B 2.00000 02/15/2050 US 674,290.96 $531,952.35
US TREASURY N/B 2.87500 05/15/2028 US 546,238.61 $546,067.91
US TREASURY N/B 1.62500 05/15/2026 US 2,331,921.26 $2,229,353.17
US TREASURY N/B 2.50000 05/15/2024 US 1,271,890.02 $1,271,740.97
US TREASURY N/B 2.37500 05/15/2027 US 2,331,395.9 $2,280,943.05
UNITED STATES TREAS NTS 2.12500 05/15/2025 US 2,288,405.96 $2,249,789.12
US TREASURY N/B 1.62500 05/15/2031 US 589,595.79 $533,215.69
VF CORP US VFC 52.82 $2,665.15
VENTAS INC US VTR 385.93 $21,897.84
VERTEX PHARMACEUTICALS INC US VRTX 1,666.53 $447,713.81
PARAMOUNT GLOBAL CLASS B US PARA 86.82 $2,980.38
VISA INC - CLASS A SHARES US V 3,237.24 $686,845.65
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 67,009.67 $65,776.19
VISTRA OPERATIONS 4.87500 05/13/2024 US 235,150.87 $236,044.08
WAL MART STORES US WMT 182.84 $23,519.05
WALGREENS BOOTS ALLIANCE INC US WBA 99.81 $4,374.63
WARRIOR MET COAL INC 7.87500 12/01/2028 US 8,002.55 $8,116.99
WASTE MANAGEMENT INC US WM 50.77 $8,047.29
WELLTOWER INC. US WELL 445.82 $39,717.67
WIN 2015-1 A1 3.50000 01/20/2045 US 12,969.97 $12,400.17
ZOETIS INC US ZTS 597.02 $102,048.96
BNY MELLON CASH RESERVE EOD FUND US 41.81 $41.81
ADMIRAL GROUP PLC GB ADM LN 1,572.34 $44,021.52
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,648.84 $11,881.70
UBISOFT ENTERTAINMENT FR UBI FP 607.54 $31,940.01
DANONE FR BN FP 305.92 $17,999.45
AIR LIQUIDE FR AI FP 348.69 $61,080.06
CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 62,495.7 $49,409.57
MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 550,408.12 $27,963.08
BRENNTAG AG DE BNR GR 555.57 $42,988.41
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 175,033.32 $8,415.62
KEYWORDS STUDIOS PLC IE KWS LN 315.8 $9,331.21
S4 CAPITAL PLC GB SFOR LN 6,588.61 $23,564.71
HELIOS TOWERS PLC GB HTWS LN 9,601.63 $13,756.65
AVANZA BANK HOLDING AB SE AZA SS 1,166.6 $28,105.97
AMERICAN TANKER INC 7.75000 07/02/2025 US 60,606.65 $57,576.32
SOFTWAREONE HOLDING AG CH SWON SW 2,006.23 $26,794.74
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,131.51 $20,005.07
SEASPAN CORP 6.50000 02/05/2024 MH 49,361.58 $49,237.44
PETROTAL CORP 12.00000 02/16/2024 CA 47,291.57 $48,710.32
FINECOBANK SPA IT FBK IM 3,742.55 $53,034.16
ALLFUNDS GROUP PLC GB ALLFG NA 2,130.52 $19,433.54
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 50,391.75 $50,360.13
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 59,687.45 $59,786.73
KENT GLOBAL PLC 10.00000 06/28/2026 GB 27,290.61 $27,017.70
ROTORK PLC GB ROR LN 7,787.02 $27,405.72
AUTO TRADER GROUP PLC GB AUTO LN 6,467 $48,109.15
CELLNEX TELECOM SA ES CLNX SM 303.1 $13,678.67
ASSA ABLOY AB-B SE ASSAB SS 1,675.37 $41,299.77
CLEANAWAY WASTE MANAGEMENT AU CWY AU 16,748.66 $35,894.13
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,586.98 $31,508.10
ADYEN NV NL ADYEN NA 28.52 $44,164.48
BANK OF N.T. BUTTERFIELD&SON BM NTB 553.64 $17,484.02
BUNGE LIMITED US BG 28.23 $3,339.58
EATON CORP PLC US ETN 54.01 $7,485.12
JOHNSON CONTROLS INTERNATIONAL US JCI 97.32 $5,304.82
MEDTRONIC INC IE MDT 2,805.5 $280,970.85
ROYALTY PHARMA PLC- CL A US RPRX 75.11 $3,089.94
STONECO LTD-A BR STNE 1,958.11 $19,659.42
TRANE TECHNOLOGIES IE TT 25.79 $3,560.00
ALCON INC CH ALC 3,698.33 $276,376.13
CHUBB LTD CH CB 47.93 $10,127.81
GARMIN LTD CH GRMN 35.44 $3,743.08
TE CONNECTIVITY LIMITED CH TEL 35.59 $4,604.78
LYONDELLBASELL INDU-CL A US LYB 36.79 $4,203.00
PLAYA HOTELS AND RESORTS US PLYA 1,576.33 $13,619.50
US DOLLAR US 3,224,831.43 $3,224,831.43
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 27,672.76 $27,647.47

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Extended Term CIT Fund and Manning & Napier Pro-Mix® Moderate Term CIT Fund. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

A Word About Risk

Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.


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